Wednesday, January 27, 2010

Survey Results: Bold Predictions

This post will conclude the coverage of the Mint News Blog reader survey. This survey was available during the first week of January as a way to wrap up the old year and start thinking about 2010 coins. The survey covered US Mint products, circulating coins, precious metals, and related topics.

With the coverage of the survey concluded, I wanted to once again thank all of the readers who completed the survey and others who read along for the results. These survey results will be revisited in some fashion at the end of the year.

From my perspective, compiling and covering the survey results was a thought provoking and enjoyable experience. It did end up being a much more lengthy process than I had anticipated. Next year, I plan to create a similar survey, but will probably reduce and refocus the questions. If anyone has other suggestions about how to improve next year's survey, please lave a comment.

The final page of the survey asked for a bold prediction about something completely unexpected that would happen during 2010 related to the US Mint or coins. I picked out a representative selection of these bold predictions, which are republished below:

"The design of the Silver Eagle will change."

"The Mint will announce the closing of one of the Mint locations due to the lowered need for circulating coin production."

"The post office will start to sell coins made by the mint in addition to stamps."

"A major change on the obverse on one of current coins. I haven't given up hope that they might put Teddy Roosevelt on the quarter or do something major with the dime."

"Presidential Dollar program canceled after Lincoln issue."

"The Mint will stop offering bullion because it will be unable to keep up with demand"

"A 1964-D Peace Dollar will surface."

"Palladium UHR!"

"I expect the 5 oz silver National Parks coins will sell out immediately . Their prices will follow the same type of curve the 1st wives coins did when first released. By the second year, the release will be a non event."

"Congress will mandate Eagle Proofs be minted for collectors."

"Another transitional variety will be discovered, similar to the 2008 silver eagle with the reverse of 2007, among currently circulating U.S. coinage."

"At least one MS first spouse gold coin will finish its production run with under 3,000 sales."

"Mint will produce 'new' Morgans to take advantage of the beauty and popularity of this coin and its design. "

"The U.S. Mint will not mint any 2010 nickels or dimes for circulation!"

"1933 St. Gaudens Double Eagles will be declared legal to own by a federal judge, and a dozen 'new' examples will surface."

"A metal change for circulating coins."

"2009 silver eagles (burnished and proofs) will be made available as limited edition products in the 2010 year."

"The mint will end direct shipment dollar coin program."

"Silver will make an all time high."

"The new quarters will be hard to find, low mintage, and banks won't order them."

13 Comments:

As always, a big thank you Michael for all the work and effort concerning the survey and for publishing samples of everyone's opinions. Throughout the year, many of us post thoughts on your blog, some positive sounding, some negative. That you publish both sides of any issue without sanction is telling. For sure, we each have an opinion and here we have a venue to express it. I think it's a shame that Mint officials and others who have a hand in daily operations and coin production probably do not benefit from both sides of opinions by the very people who order and buy numismatic products they make available. I wish they would read the thought of others from time to time.

The very last prediction is probably not far off the mark. The handful of local banks here that actually received rolls of 2009 U.S. Territories Quarters have already told me that they will not be ordering the 2010's. Hence, I don't know if I'll be able to get any rolls at all this year!

The Mint did it before - they certainly could do it again. There's no reason against it in my opinion. I'm thinking about the difficulty and general impossibility of obtaining simple nickels and dimes.

Many will remember that the Mint offered and sold bags of 500 and 1,000 circulation quality nickels, both P & D, in the years 2003 - 2007. Many were part of the Westwood Journey series. ( Peace, Keelboat, Bison, Ocean & Return )They also marketed the 2003 bags as the "last of the Monticello obverse" design nickels. (1938-2003) I know because I bought these bags each year to be left to my children, for posterity. They remain in the Mint cardboard mailing boxes. Maybe 50 years from now, someone will buy them, and have the joy of searching thru 100's of coins never circulated. Talk about the thrill of getting a Mint sewn bags that was never opened or searched. Imagine the anticipation of finding, MS65 & better coins, double dies?, off strikes, others?

If the Fed won't distribute 2009 coins, the banks aren't ordering, everyday coins are not being made available........the MINT should pull up their boot straps and re-take initiative as they did just a few years ago. Imagine 100's of thousands of children, adults and others who won't be able to fill the holes in their coin books. Sell bags of everyday coins to collectors...not fancy rolls in useless color wrappers at outrageous prices. This isn't rocket science.....it's a lost opportunity not to act. ~ Grandpa

MISSED MY CHANCE TO PREDICT THAT THE MINT WILL ISSUE A SET OF 4 NICKELS HONORING THE PROGRESSIVE PRESIDENTS OF THE UNITED STATES. W WILSON, F ROOSEVELT, L JOHNSON AND B OBAMA. THE SET WOULD BE TITLED THE 'PLUGGED NICKELS' DEPICTING THEIR WORTH, BUT SINCE NO BANK IS ORDERING ANY NICKELS THIS YEAR, NOBODY WOULD BE ABLE TO GET THEM, EXCEPT PUERTO RICO.

Less of a prediction than an idea- the Mint should reintroduce the 2-cent coin, but not as it was. It would be made of a consistently cheap metal and thereby help reduce the need to produce costly cents and nickels. We would have the same dollar value in coinage produced, but for a cheaper cost and as an opportunity to reduce losses on the cent and nickel; plus, the Mint could get a lot of collectors sales on its first edition(s).

I've wondered about the potential savings of a two cent coin for years. It would take a while to get used to, and the public would probably throw a fit for the first few years. Merchants would need to figure out another arrangement for their tills, but two cent coins really do seem to make sense to me without having done any in-depth statistical analysis.

Here's a Novel Idea, why not manufacture products that people will actually use?.. like a 5 Dollar Coin? The Mint wonders why people don't use the 1 dollar Coins...it's because you can't buy anything for a BUCK ANYMORE! Crikey! a Pack of Cigarettes costs $8.00..a Hamburger costs $5.00..1 Dollar Coins are useless. I'd gladly carry $20 in the form of 4 Coins but I won't carry $20 in single Coins...you want to cut down on costs? Try minting something that we'll use for a change..They last much longer and if the Vending Machine Industry doesn't like it, they can adapt or Perish. Somebody else, willing to adapt, will always take their Place. Just a rant...